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Apply: 2021 Savvy Global Fellowship for Aspiring and Early-Stage Entrepreneurs (Fully-funded Virtual Program)

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Apply: 2021 Savvy Global Fellowship for Aspiring and Early-Stage Entrepreneurs (Fully-funded Virtual Program)

Application for the 2021 Savvy Global Fellowship Program for Aspiring and Early-Stage Entrepreneurs is now open! Are you passionate about solving some of the world’s most pressing problems through innovation? Have you ever wanted to build a successful impact-driven business, but didn’t know how to? Do you own an early-stage business that you want to grow and scale into new markets and verticals? Are you interested in being part of the new generation of impact-driven entrepreneurs? Then apply now! Savvy is looking for you.
Savvy is a global virtual Fellowship program for passionate and brilliant young individuals seeking to be part of the new generation of impact entrepreneurs. Due to the COVID-19 pandemic, many have lost their jobs and are now living in an uncertain world. Savvy Fellowship is equipping these individuals with the necessary knowledge and skill they need to start their own impact-driven business and succeed as entrepreneurs.
The Savvy Global Fellowship for Aspiring and Early-Stage Entrepreneurs, which began in 2020, has so far, received over 30,595 applications from around the world, and has selected 2,572 Fellows from 113 countries. For 12 weeks, no matter what stage your venture is, the Fellowship program helps selected Fellows answer all the relevant questions that they need to kickstart their amazing impact venture, gain early traction, achieve product-market fit, and scale into new markets.

About the Fellowship:

Some of the things you’ll learn as a Savvy Fellow include fundraising for your business, building the right team to execute your business strategies, building buzz around your product or service, achieving product-market fit, scaling into new markets and verticals, and building customer loyalty and retention.
E-Learning: Savvy Fellowship kicks off with a rigorous 12-weeks e-learning experience. As a Savvy Fellow, you will learn everything from ideation to scaling. Some of the things you’ll learn during the program are ‘understanding your customer’, ‘building a product or service that effectively solves their key challenges’, and ‘effectively positioning your solution in the market.’
Assessment: During the 12 weeks of learning, unlearning, and relearning, you can test your understanding by taking our weekly quizzes. The quizzes are a combination of multiple choices, Yes or No, and True or False. Assessments are the best way to identify your strengths and areas of weaknesses. Knowing your weaknesses helps you work effectively on them.
Peer Mentorship: We have introduced peer-to-peer mentorship, which we have found very effective. Our motto at Savvy is: “Be Your Fellow’s Keeper.” So, since all Savvy Fellows don’t have the same level of experience, more experienced and knowledgeable Fellows will help guide the others.
Expert Mentorship: Savvy Fellows get weekly expert mentorship from over 100 renowned experts across various industries. The Fellows are expected to effectively transform all their learnings from the expert mentorship sessions, into meaningful and measurable societal impact.
Post-Fellowship: After 12 weeks, you’ll receive a Certificate of Completion to proudly share with your professional network. That’s not all. You’ll still find the Savvy platform useful as we constantly share weekly articles on impact entrepreneurship, personal branding, capacity building, and professional opportunities. So, your Savvy Fellowship account will be useful even after you complete the intensive 12-week virtual Fellowship program.
One of the missions of Savvy is to bring passionate and competent individuals together to build sustainable businesses, or to foster strategic partnerships and collaborations between these individuals. With that said, we encourage selected Fellows to use the Savvy platform to find and interact with other Savvy Fellows, which could lead them to start a business together or forge a helpful partnership.

Benefits:

Becoming a Savvy Fellow is an exceptional opportunity for you to:
1. Identify your ideal target customer, and build a product or service that exceeds their expectations.
2. Make your product or service stand out from competing or substitute solutions in the market.
3. Draft a solid go-to-market strategy, revenue model, and customer acquisition strategy for your business.
4. Optimize your business operations, delegate properly, and build a winning team to execute your business strategies.
5. Identify the right legal structure for your business, raise capital for your business, and forge strong strategic partnerships that will help you scale your business.
6. Meet and interact with renowned business experts across various industries.
7. Share your experiences with other Fellows, and learn from them.
8. Explore industries beyond your daily work and expand your expertise.
9. Strengthen your work through new connections, skills, and ideas.
10. Join a global alumni network of over 2,500 entrepreneurs, to help you seek innovative solutions to common business challenges.

Our Fellows Say:

“Throughout the process of learning, I had a great and wonderful experience. I noted down the important points for my future reference, and I got some really good insights. I am in process of working on my company’s mission and goal, so this helped me a lot to frame them properly. I had a fun and really good learning process. Thanks for such great insights and guidance.” —Araveti Ganga Pratima (from India)
“If you want to be an entrepreneur, then you need to go through the Savvy program. The curriculum is well-defined and very informative. You can work base on your availability because the lessons are split into weeks, and then you can get the opportunity to evaluate yourself by taking the assessment. I definitely recommend it to everyone who got an interest in entrepreneurship.” —Rosa Bilal Ismael (from Djibouti)
 
“Savvy is a well-designed program for those wanting to pursue entrepreneurship in the future. It provides insights into the basic knowledge one must have to engage in entrepreneurial activities. The notes provided are brief yet give maximum knowledge and this does not even bore the learner. This is a very good platform for people to learn about entrepreneurship in their early stages.” —Urwah Mansoor (from Pakistan)

Eligibility:

Application is open to aspiring and early-stage entrepreneurs around the world. There is no geographical, ethnic, or academic restriction. We accept new Fellows between the ages of 18 – 40, who can demonstrate in their application their passion to learn and create lasting change in their community (and the world.) However, we consider applicants above the age of 40, with at least 5 years of work or entrepreneurial experience.

Application:

We have no application deadline. Savvy is a fully-funded Fellowship program, so selected Fellows are not required to pay any fee. You can apply today from https://savvyfellows.com/apply/

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Telecommunications

Call, Data Rate to Jump 100% as FG Imposes 5% Excise Duty on Telecoms

Call and Data rates could jump as much as 100% once the Federal Government implemented 5% excise duty on telecommunication services

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Services Tax

Call and Data rates could jump as much as 100% once the Federal Government implemented 5% excise duty on telecommunication services, a source from the sector stated.

According to industry experts, the increment will not only impact subscribers but also increase tax burden on telcos which would translate into rise in tariffs.

This, experts explained would increase the total consumption tax on the sector from just the 7.5% Value Added Tax (VAT) to 12.5%, a situation they said would worsen Nigerians’ economic status given the ongoing happenings in the country.

If implemented, Nigerians are now expected to be paying as much as N40 a minute, up from N20 and could be paying up to N2,500 per gigabyte.

Last week, Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, decried the new tax, threatening to take the Federal Government to court for overburden the industry with so much taxes at a time when the telecommunication sector and the entire Nigerian economy was not faring well.

He said: “The 5 percent excise duty will overburden the industry. As a Minister, I was neither consulted nor obtained a memo to that effect. Even the appropriate lawmakers that were supposed to be talked with have also told me they were not.

”Things are not done that way. Besides condemning the tax, we will take every lawful step to guarantee that the tax does not stand.”

However, Ahmed Zainab, Nigeria’s Finance Minister, had different excuse for going ahead with the new 5% excise duty. According to her, the new 5% excise duty was in line with 2020 Finance Act and was part of Federal Government efforts at augmenting the nation’s revenue, especially from the non-oil sector.

The National Association of Telecoms Subscribers and the Nigerian Telecommunication Consumer have joined Pantami and other Nigerians to kick against the decision they considered wicked and inconsiderate.

Chief Adeolu Ogunbajo, president National Association of Telecoms Subscribers (NATCOMS) also added his voice. He said the sector is barely holding its ground with the existing 7.5 percent VAT, additional 5 percent will sum the total VAT in the sector to 12.5 percent. This is a killer move on the sector, he said.

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Fintech

Soft POS User Base to Grow 475% Globally by 2027

The total number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027

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point of sales

A new study from Juniper Research has found the total number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027; rising from 6 million in 2022. This growth will be driven by Apple’s entrance into the soft POS space; enabling iOS users to access an affordable mobile POS solution.

Soft POS enables NFC enabled smartphones or tablets to accept contactless payments, without additional hardware.

1.2 Billion iOS Users Added to Soft POS Market

The research forecasts that Apple’s decision to enable third parties to develop soft POS solutions leveraging iOS NFC capabilities will result in an influx of iOS-specific services; leading to innovative solutions for merchants. Furthermore, the research predicts Apple’s entry will provide 1.2 billion iOS users with soft POS capabilities; unlocking a previously untapped market.

Soft POS is the latest development from Apple within the payments space; building upon Apple Pay and Apple Pay Later. Soft POS vendors should leverage Apple’s payment ecosystem by developing innovative solutions such as integrated QR payment acceptance, using Apple Pay and Pay Later compatibility to attract a broader iOS user base.

Increasing Contactless Payment Adoption to Drive Soft POS Uptake

The research anticipates soft POS adoption being driven by the increasing use of contactless payments – with volumes expected to rise from 195 billion in 2022 to 408 billion by 2027. Therefore, consumers will come to expect contactless acceptance as standard; forcing smaller merchants to adopt contactless-capable POS solutions. Merchants are anticipated to embrace soft POS, based on cost savings achievable from eliminating the need for additional hardware, as well as mobility advantages over contactless POS.

This will be profound for small-sum and mobile merchants that must accept contactless transactions, but lack the need for high-cost dedicated terminals. As such, the research recommends soft POS vendors must look to target micro and mobile merchants; designing solutions that meet their unique needs.

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Fintech

Buy Now Pay Later Users to Reach Over 900 Million Globally by 2027

Buy Now Pay Later users will surpass 900 million globally by 2027; increasing from 360 million in 2022.

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mastercard biometric payment card fingerprint

A new study from Juniper Research has predicted that the number of BNPL (Buy Now Pay Later) users will surpass 900 million globally by 2027; increasing from 360 million in 2022. This substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost credit solutions.

BNPL schemes enable consumers to spread the cost of their purchases without interest charges; making them a highly attractive alternative to credit cards. Additionally, BNPL services do not require hard credit checks and an increasing number of merchants are accepting this payment method; making it easier to access for consumers than traditional credit.

India to Experience High User Growth

The research identified India as having potential for rapid growth in BNPL, with users predicted to grow from 25 million in 2022 to 116 million by 2027. This is due to rising eCommerce usage and growing interest in international goods available through online retailers. In turn, it recommends that vendors build strategic partnerships with vendors in developing markets with established consumer bases, to successfully capitalise on this user growth and associated revenue.

Virtual Cards to Further Boost Usage

The research predicts that the adoption of virtual cards, where digital only cards are used for purchases, will increase the usage of BNPL solutions, as they only require merchants to accept card payments – overcoming previous limitations on growth. The advancement of virtual cards allows BNPL schemes to compete with credit cards; particularly in-store, where single use BNPL cards can be used within a digital wallet to complete contactless transactions.

Juniper Research recommends that in order to compete in this highly competitive landscape, BNPL vendors must differentiate their services: including offering virtual cards, browser extensions that automatically facilitate BNPL payment services, and digital loyalty schemes.

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